Portman Industrial announced that it secured $29 million in construction financing for the first phase of the 1.1 million-square-foot, state-of-the-art industrial business park in Taunton, Mass. The site was previously home to the Silver City Galleria shopping mall, which closed in 2020 after 29 years of operations.
The master-planned park is positioned to benefit from the sites existing infrastructure, including high-capacity utilities, access to the State Route 140/State Route 24 onramp and ample land ideal for generous truck courts and flexible parking throughout. Upon completion, the 248,435 square-foot-industrial building will feature more than 38 dock positions with two drive-in doors, 32-foot clear heights, over 270 parking spaces, 29 trailer drops, 3,000 AMPs of power capacity (with expandability) and ESFR fire suppression.
JLL represented the borrower to secure the three-year construction loan from BMO Harris Bank.
